137 was started and completed during the year. What price would have been charged to the customer if the job required $3‚200 in materials and $4‚200 in direct labor cost‚ and the company priced its jobs at 40% above the job’s cost according to the accounting system? 5. Direct labor made up $8‚000 of the $40‚000 ending Work in Process inventory balance. Supply the information missing below: Direct materials . . . . . . . . . . . . . . . $ ? Direct labor . .
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and by doing this it leads the CPA’s down a road to making unethical decisions. Gerard works for Trawlers Accounting and has for several years‚ but pressures from his wife’s high-risk pregnancy and changes in the accounting industry have placed him in a difficult situation. Financial‚ emotional‚ and organizational pressures to which Gerard is exposed are issues. The issue of accounting firms going into the financial services industry has become prevalent. We saw such conflicts of interest arise
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CHAPTER 6 A CRITIQUE OF THE EIGHT PSYCHOLOGISTS Sigmund Freud While Freudian theory is vulnerable to criticisms of being unscientific and too reductionistic (though behaviorists criticize it for not being reductionistic enough)‚ classic psychoanalysis does offer a comprehensive system of personality‚ pathology‚ and therapy that has made a lasting contribution to an understanding of human behavior‚ especially in such areas as defense mechanisms‚ the reality of unconscious mental dynamics‚
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Case 8-29 1. a. Sales budget: April May June Quarter Budgeted sales in units 35‚000 45‚000 60‚000 140‚000 Selling price per unit × $8 × $8 × $8 × $8 Total sales $280‚000 $360‚000 $480‚000 $1‚120‚000 b. Schedule of expected cash collections: February sales $ 48‚000 $ 48‚000 March sales 112‚000 $ 56‚000 168‚000 April sales 70‚000 140‚000 $ 70‚000 280‚000 May sales 90‚000 180
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E -11 DM 5 DL 4 VMO 3 FMO = 180‚000/50‚000 = 3.6 Total = 15.6 15.6 * 5‚000 (50‚000-45000) = 78‚000 E-12 DM 5 DL 4 VMO 3 Cost per unit = 12 $ EIV = 12 * 5000 = 60‚000 E-13 Difference 3.6 * 5000 = 18‚000 And 78‚000 – 60‚000 = 18‚000 E-14 CGS sold = 45000(sold) * 15.60 = 702‚000 E15 12 * 45000 = 540‚000 E16 Sales = 30 * 45‚000 = 1‚350‚000 CGS 702‚000 CM 648‚000 Less S & admin. 160‚000 Net income 488‚000 E17 Sales =
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Problem One Cost Concepts and Cost Flow (8 points) The following information is from MM wooden bed Co. for September: Wood used in production Carpenters salary Factory supervisors salary Factory security guard and janitor salary Sales persons salary CEO and CFO salary Advertisement expense Depreciation of factory equipment Factory utilities Oil and lubricants for factory equipment‚ and other miscellaneous materials used in production Wood inventory‚ Sept. 1 Work-in-process inventory
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Brief Exercise 1-7 Your answer is correct. Indicate which statement you would examine to find each of the following items: income statement‚ balance sheet‚ retained earnings statement‚ or statement of cash flows. (a) Balance sheet Revenue during the period. (b) Income statement Supplies on hand at the end of the year. (c) Statement of cash flows Cash received from issuing new bonds during the period. (d) Balance sheet
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BBUS2541 – ASSIGNMENT #3 Q1 – Exercise 4-18 Percentage of Physical Completion w/respect Equivalent Units Units to conversion Direct Material Conversion Work in Process‚ October 1 1‚000 40% Units Started during October 5‚000 Total Units to account for 6‚000 Units from beginning WIP‚ completed & transferred out during October 1‚000 100% 1‚000 1‚000 Units started & completed during Oct 3‚000 3‚000 3‚000 Work in Process‚ Oct 31 (20% as to con) 2
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fffffffffffffffffCOURSE SYLLABUS Spring 2013 Frank Stearns Riverside Community College Spring 2013 MANAGERIAL ACCOUNTING - 1B COURSE SYLLABUS MANAGERIAL ACCOUNTING - 1B Table of Contents General Information 3 1.1 Contact Information and Communications 3 1.2 Course Description 3 1.3 Learning Outcomes 3 Identification of Course/Reading Materials 3 2.1 Text and Materials 3 2.2 Internet Access 4 2.4 Web-CT / Open Campus 5 2.5 Log on Instructions 5 Course Requirements
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Managerial Accounting‚ Spring 2013 Read chapter 7‚ complete the following which are DUE March 3‚ 2013 Complete all Questions as marked on page 301 (7-1 through 7-10). Also the following problems sets should be completed in excel. Chapter 7‚ (page 308) Problem 7-9 Questions 7-1 In what fundamental ways does activity-based costing differ from traditional costing methods such as job-order costing as described in Chapter 3? a) Nonmanufacturing as well as manufacturing costs may be assigned to
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